Does a small company have to file full accounts?

So many types of accounts that can be filed, which one is the bare minimum needed for CH and HMRC?

Didn't find your answer?

Really confused here...

Trying to understand the ins and outs of accounting and the one most confusing thing that is very strangely documented, is what small companies have to file in terms of their yearly accounts.

There are micro-entity, abridged and full accounts. 

Which one is completely the bare minimum to satisfy both HMRC and Companies House?

This will also need to satisfy any corporation tax requirements.

Extremely confused here for the past months - thought I had this under my belt, but then doubting myself. I keep thinking that micro-entity or abridged accounts are enough without the director's report.

Replies (15)

Please login or register to join the discussion.

avatar
By andy.partridge
23rd Dec 2018 18:06

The minimum for Companies House is not the same as the minimum for HMRC so your question is a riddle.

Thanks (0)
Replying to andy.partridge:
avatar
By sirtingali
23rd Dec 2018 18:09

This is sort of what is confusing me..

So what should be done for a small company? What satisfies both HMRC and CH?

Thanks :)

Thanks (0)
Replying to sirtingali:
Flag of the Soviet Union
By thevaliant
23rd Dec 2018 22:02

The problem is, that HMRC require a full set of accounts (for shareholders) and also the 'back pages' detailing out the profit and loss.

HMRC will want the above. Companies House, this is more than required. HMRC DON'T publish the accounts you send them, Companies House DO.

So if you want 'one' set of accounts, you need to produce bells and whistles set, send it to Companies House who will dutifully publish what you send them, adding the tag 'Look at this fukcing idiot, publishing EVERYTHING'. It makes you look like a fool.

Thanks (2)
RLI
By lionofludesch
23rd Dec 2018 18:13

You need to look at the Companies House rules for Companies House filing and the HMRC rules for the HMRC filing.

It's much more straightforward than people make out.

Thanks (0)
Replying to lionofludesch:
avatar
By sirtingali
23rd Dec 2018 18:29

https://www.gov.uk/annual-accounts/microentities-small-and-dormant-compa...

"If your company is small, you can send abridged accounts to Companies House. Abridged accounts contain a simpler balance sheet, along with any notes"

1) Does that mean a small company can just send Abridged Accounts to Companies House? (I know this is obvious but just leading onto the second question).

2) So what needs to be sent to HMRC?

3) I assume from the above link, a small company or micro entity needs to send an Abridged set of accounts to Companies House (following the statutory accounts stuff) and then company tax return to HMRC?

Very much confused here, and literally crying for help in understanding this stuff.

Thanks :)

Thanks (0)
Replying to lionofludesch:
avatar
By sirtingali
23rd Dec 2018 18:29

https://www.gov.uk/annual-accounts/microentities-small-and-dormant-compa...

"If your company is small, you can send abridged accounts to Companies House. Abridged accounts contain a simpler balance sheet, along with any notes"

1) Does that mean a small company can just send Abridged Accounts to Companies House? (I know this is obvious but just leading onto the second question).

2) So what needs to be sent to HMRC?

3) I assume from the above link, a small company or micro entity needs to send an Abridged set of accounts to Companies House (following the statutory accounts stuff) and then company tax return to HMRC?

Very much confused here, and literally crying for help in understanding this stuff.

Thanks :)

Thanks (0)
Replying to sirtingali:
RLI
By lionofludesch
23rd Dec 2018 22:20

sirtingali wrote:

Very much confused here, and literally crying for help in understanding this stuff.

Thanks :)

We've taken years to learn this stuff.

Why do you feel we can pass this on to you in ten minutes ?

Thanks (1)
Replying to sirtingali:
ALISK
By atleastisoundknowledgable...
25th Dec 2018 22:10

1. Yes
2. Full
3. Yes

If you get some proper accounts software, it’ll produce the required sets, under button headings along the lines of “Registrar accounts for Companies House” and “Full accounts” for shareholders & HMRC. you’ll need to attach the full accounts to your CT600 - if you have integrated accounts/tax software (we use TaxCalc) it’ll automatically pull through what is needed.

Thanks (0)
Replying to atleastisoundknowledgable...:
RLI
By lionofludesch
26th Dec 2018 10:05

I disagree here. If the company does abridged accounts, it needs to send abridged accounts to HMRC.

Thanks (0)
avatar
By zebaa
23rd Dec 2018 18:24

If you are going to DIY it you will find the GOV gateway leads you through both the CT & Co house returns. So, log on and have your accounts ready to answer the questions asked. Or, save your self the problem and pay someone who knows what they are doing to do it for you.

Thanks (1)
Replying to zebaa:
avatar
By sirtingali
23rd Dec 2018 18:30

Learning this really, so not entirely sure how it all works since it's all a bit confusing - hence why I'm asking. :)

Thanks (0)
Replying to sirtingali:
avatar
By Accountant A
24th Dec 2018 00:43

sirtingali wrote:

Learning this really, so not entirely sure how it all works since it's all a bit confusing - hence why I'm asking. :)

Unless you are proposing to undertake formal training towards a recognised accounting qualification, your chance of understanding everything you need to do as far as tax and Companies House reporting is concerned is pretty close to zero. Good luck though.

Thanks (2)
avatar
By Matrix
23rd Dec 2018 18:50

Filleted accounts to Companies House and full accounts to HMRC. Ignore abridged accounts, micro should be fine unless your business does not meet the conditions in which case why you are you trying to DIY?

Accountants don't use the joint filing service since it is not available to us, you would be advised to have a balanced trial balance and tax computation to hand before you start.

If the due date is 31 Dec then get an accountant next year - get on with running your business as we can genuinely save your time, energy and money. I don't know why you are choosing to learn all this at this time of year.

Thanks (2)
Glenn Martin
By Glenn Martin
24th Dec 2018 08:49

Come on at least have a try.

"Which is the complete bare minimum for your accounts"

1. Micro Entity Accounts.
2.Abridged Accounts
3.Full Accounts

Thanks (0)
avatar
By SXGuy
24th Dec 2018 09:06

Waits for the "how do I tag my accounts"

Thanks (0)